Fund of Information

Going With the Flows

Almost two years ago, I wrote my first column for Barron's, "Fund Investors Aren't So Dumb, After All." In it, I talked about how investors tended to choose better-performing funds than they were often given credit for—the funds with the most assets performed in line with or even ahead of their relevant benchmark and the category as a whole. I also noted that some of the criticisms of fund investors...